Newmont Mining Corp (NYSE:NEM) EVP Elaine J. Dorward-King sold 3,000 shares of the firm’s stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $31.51, for a total transaction of $94,530.00. Following the completion of the sale, the executive vice president now owns 99,831 shares of the company’s stock, valued at approximately $3,145,674.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
NEM traded up $0.36 during midday trading on Friday, reaching $32.42. 5,260,770 shares of the company’s stock were exchanged, compared to its average volume of 5,281,169. The company has a current ratio of 4.70, a quick ratio of 4.02 and a debt-to-equity ratio of 0.36. The stock has a market cap of $16.51 billion, a P/E ratio of 22.21 and a beta of 0.24. Newmont Mining Corp has a 1-year low of $29.06 and a 1-year high of $42.04.
Newmont Mining (NYSE:NEM) last announced its earnings results on Thursday, October 25th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.11. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Newmont Mining had a negative net margin of 2.63% and a positive return on equity of 6.19%. As a group, analysts forecast that Newmont Mining Corp will post 1.18 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Thursday, December 6th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Wednesday, December 5th. Newmont Mining’s payout ratio is currently 38.36%.
Several analysts recently commented on NEM shares. BMO Capital Markets reiterated a “buy” rating and issued a $46.00 price objective on shares of Newmont Mining in a research note on Friday, September 21st. TheStreet cut shares of Newmont Mining from a “b-” rating to a “c” rating in a research note on Thursday, October 4th. Canaccord Genuity reiterated a “hold” rating and issued a $37.00 price objective on shares of Newmont Mining in a research note on Monday, October 22nd. TD Securities raised their price objective on shares of Newmont Mining from $37.00 to $38.00 and gave the company a “hold” rating in a research note on Thursday. Finally, ValuEngine cut shares of Newmont Mining from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. Newmont Mining presently has an average rating of “Hold” and a consensus price target of $40.64.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Flossbach Von Storch AG raised its position in Newmont Mining by 2.6% during the second quarter. Flossbach Von Storch AG now owns 10,189,687 shares of the basic materials company’s stock worth $384,253,000 after acquiring an additional 258,789 shares during the last quarter. Northern Trust Corp raised its position in Newmont Mining by 5.6% during the second quarter. Northern Trust Corp now owns 8,472,011 shares of the basic materials company’s stock worth $319,480,000 after acquiring an additional 448,415 shares during the last quarter. FMR LLC raised its position in Newmont Mining by 54.1% during the second quarter. FMR LLC now owns 7,404,467 shares of the basic materials company’s stock worth $279,222,000 after acquiring an additional 2,598,995 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Newmont Mining by 12.9% during the second quarter. Dimensional Fund Advisors LP now owns 5,089,539 shares of the basic materials company’s stock worth $191,885,000 after acquiring an additional 583,232 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Newmont Mining by 6.8% during the second quarter. Janus Henderson Group PLC now owns 3,598,606 shares of the basic materials company’s stock worth $135,716,000 after buying an additional 228,782 shares in the last quarter. Institutional investors own 82.88% of the company’s stock.
About Newmont Mining
Newmont Mining Corporation, together with its subsidiaries, operates in the mining industry. The company primarily acquires, develops, explores for, and produces gold, copper, and silver. Its operations and/or assets are located in the United States, Australia, Peru, Ghana, and Suriname. As of February 22, 2018, the company had proven and probable gold reserves of 68.5 million ounces and an aggregate land position of approximately 23,000 square miles.
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